Today we will have the U.S. Consumer Price update due at 13:30 UTC and there is serious speculation surrounding this event. The bias is hawkish and thus, in favor of the U.S. dollar but if data falls short of expectations, this disappointment would imply a greater potential and could thus generate a short squeeze in dollar positions. In other words, a meaningful move is more likely on a disappointment than a hawkish confirmation.
We wish everyone good trades and a beautiful weekend!
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